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The One Ring Forums: Tolkien Topics: Movie Discussion: The Hobbit:
From the Home Page: Lions Gate sues Icahn, alleging `double game'

Superuser / Moderator

Oct 29 2010, 1:26am

Post #1 of 11 (795 views)
From the Home Page: Lions Gate sues Icahn, alleging `double game' Can't Post

The MGM, Lions Gate drama continues. The latest from Bloomberg.com: Lions Gate Entertainment Corp. is suing billionaire Carl Ichan over the Metro-Goldwyn-Mayer Inc. studio deal in federal court in New York, alleging the financier was “secretly plotting” to merge the studios. In the lawsuit, Vancouver-based Lions Gate, the studio whose films include “Crash” and “Precious,” alleges that Icahn realized by June that Lions Gate was in advanced negotiations with two unidentified studios. Aware that the deals might dilute his stake in Lions Gate, Icahn “took drastic and improper action,” the studio said.

Icahn, 74, the studio’s largest shareholder, undermined any proposed transactions by making false and misleading statements, Lions Gate said. He told the investing public that such a deal would be a “financial debacle” and issued press releases vowing to challenge any transaction and sue any entity that interfered with his tender offer, the studio said.

“Icahn opposed a merger with MGM not because it was bad for Lions Gate shareholders, but because it was good -- so good, in fact, that he wanted to postpone it until he could buy as much of both companies as he could and thus extract for himself as much of the value stemming from the merger as possible,” Lions Gate said in the complaint, filed today in U.S. District Court in New York. Thanks to message board member Owain for the link. Read More...

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(This post was edited by Altaira on Oct 29 2010, 1:29am)

Tol Eressea

Oct 29 2010, 3:49am

Post #2 of 11 (478 views)
The Cliffs of Insanity!!!// [In reply to] Can't Post


Middle Earth is New Zealand!

"Question everything, embrace the bad, and hold on to the good."

Tol Eressea

Oct 29 2010, 3:56am

Post #3 of 11 (463 views)
That Icahn [In reply to] Can't Post

he can fuss.

(a slight emphasis on the last word)
(looking at Inigo)

... fuss ... fuss ...

(Suddenly, he's got it again, emphasis on the last word.)

I think he likes to scream at us.


Probably he means no harm.


He's really very short on charm.


Oh, you've a great gift for rhyme.


Yes, some of the time.

King Arthur: Who are you who can summon fire without flint or tinder?
Tim: There are some who call me... Tim?

Tol Eressea

Oct 29 2010, 3:58am

Post #4 of 11 (444 views)
Anybody want a peanut?// [In reply to] Can't Post


Middle Earth is New Zealand!

"Question everything, embrace the bad, and hold on to the good."


Oct 29 2010, 5:48am

Post #5 of 11 (462 views)
Nowadays... [In reply to] Can't Post

...you gotta love the word lawsuit! It´s so fashionable isn´t it? Evil

Kangi Ska

Oct 29 2010, 5:57am

Post #6 of 11 (413 views)
I like birthday suit better.// [In reply to] Can't Post


Kangi Ska Resident Trickster
New Zealand is Middle-earth & today life is good.

At night you can not tell if crows are black or white.



Oct 29 2010, 6:04am

Post #7 of 11 (408 views)
Personally nothing beats a space suit in coolness... [In reply to] Can't Post


The Shire

Oct 29 2010, 11:49am

Post #8 of 11 (360 views)
Another bump in the road [In reply to] Can't Post

This smells like another obstacle and a further delay.With all these signs, it's quite clear that "The Hobbit" isn't meant to be shot neither in NZ nor anywhere else.Just pull the plug and end the misery please.Thx

(This post was edited by B.R.n on Oct 29 2010, 11:54am)

Tol Eressea

Oct 29 2010, 12:27pm

Post #9 of 11 (360 views)
Are you being serious? // [In reply to] Can't Post



Oct 29 2010, 12:31pm

Post #10 of 11 (360 views)
Nah [In reply to] Can't Post

The greenlight is on, wouldnt have happened with out the gaurantee of MGMs backing, so what ever happens they have to fund the film, chances are if they dont WB get everything and MGM gets a nice fat law suit either way the hobbit will go ahead.

I just feel sorry for everyone out there involved in and anticipating Bond, I had the distinct impression that the 2 films were intricately tied, if one got out so would the other but it doesnt look like thats the case. Just glad MGM threw thier bid in with the Hobbit.

Forum Admin / Moderator

Oct 29 2010, 12:36pm

Post #11 of 11 (383 views)
I'd stay away from Lionsgate if I were an MGM creditor... [In reply to] Can't Post

... as if MGM doesn't have enough of its own problems! I don't see its creditors wanting to get sucked up into the whole fiasco that is Lionsgate. MGM is probably looking for some stability right now, and rightly so.

Anyway, today's the vote, and the silence makes me believe they're going to stick with the Spyglass deal Smile


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